THELOGICALINDIAN - Following the beforehand of Bitcoin Litecoin has acquired 569 over the weekend The beforehand has additionally brought the amount afterpiece to its attrition area above which Litecoin may attestant a massive assemblage Litecoin is currently trading at 3047
In my antecedent assay blue-blooded This Market is not for the Greedy!, I had appropriate that Litecoin be shorted by befitting a austere stop-loss aloft $2.980. Those who would accept followed this beforehand would accept minimized their losses significantly.
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Technical assay of the 240-minute LTC-USD amount blueprint credibility to a anticipation that the cryptocurrency may, in fact, be basic a new trading range.
Litecoin Blueprint Structure – A afterpiece attending at the blueprint aloft suggests that Litecoin is trading in a advanced ambit of $2.690-3.090. Currently abreast the resistance, Litecoin may face accumulation booking and conception of bearish positions.
Moving Average Convergence Divergence – As Litecoin spends time abreast the highs, the Histogram is falling. The Signal Line can be apparent fast communicable up with MACD as the closing goes flat. The latest ethics of MACD, Signal Line and Histogram are 0.0416, 0.0373 and 0.0043 respectively.
Momentum – The Momentum indicator is on the border of hitting the 0 mark. The latest Momentum amount is 0.0670.
Relative Strength Index – The RSI amount of 58.3771 is apocalyptic of the bullish ascendancy over Litecoin.
Conclusion
Litecoin seems to be trading in a amount bandage of $2.690-3.090, and a blemish aloft either of these levels is accepted to ammunition the activity in that direction. But until that happens, bazaar participants can barter this range. Abbreviate Litecoin at accepted levels by advancement a austere stop-loss aloft $3.090 for a ambition of $2.900. If a absolute blemish does occur, awning the abbreviate positions and admit ablaze continued positions.
Market participants are additionally brash to accumulate clue of the looming Grexit, which is accounted to be the above accidental agency in the amount acceleration of Litecoin.
